opinions on way to go...

Hi,

I'm just looking for a few opinions on things I'm considering in my
situation. I'll apologize for rambling in advance, but I figure there's
got to be some folks on usenet willing to waste their time
advising me... I'm currently in a job which I'm sure I will keep for about
2 - 3 years, but afterwards may or may not choose to move far away (back
to school, or different job) or keep longer. I've owned two cars, both old
and well used (87 celica conv, moved on to a 95 v6 cougar after the
former's transmission died). They both gave me (along with at least one
not-honest mechanic) a fair share of problems and expenses. If my current
car ever needs more major repairs (for instance, if it fails my next
safety inspection next month, which I see as possible judging from all
the bad noises when I turn the wheel!), I'll probably opt to get something
nicer rather than keep getting hammered for repairs on a car I can't
rely on (I've got more income now than I did before!). It certainly
would be nice to have a warranty for a change. Also, I'm a young
single guy, so of course I like sporty cars, don't need excessive storage
room or a huge backseat (although I will occasionally haul audio
equipment, a couple of passengers, or other largish things around), etc.

For this reason I'm considering a lease, although I've heard that in
general one loses $ on leases. However, the warranty if I lease a new car,
plus the lack of obligation if I choose to move around when the lease
expires, are attractive (plus the possibility of getting something nicer
than if I buy). In particular, it seems to me if I can get a
lease on a 1 yr old car, it's a good deal, since I avoid the 1st year
deprication loss when I negotiate the lease terms. Does that seem
reasonable? Do many dealerships lease not-brand-new cars?

Of the two cars I've owned, I loved the convertible, because, well, it was
convertible and at the time I lived in Calif. The Cougar does *a lot*
better accelerating from a red light, despite similar
horsepower/weight ratios (which I'm presuming is from the greater torque
at low revs of the much larger engine). It's also a bit more 'luxurious'
which is nice.

Also, I know the best thing to do is test drive and see what I
like, but I figured it couldn't hurt to hear some opinions on the vehicles
I'm considering.

So anyway, one car I've considered is the Acura RSX. In particular, I like
the auto shift feature, hatchback (easier loading), and from what I read,
it's fairly quick. Unfortunately, I don't drive stick (but if anyone
knows a good driving school around denville, nj, please advise!) so I
can't consider the stronger engine option. Also, acura/honda's reputation
for reliability is attractive. Anyone have opinions, prices they paid,
etc, on this vehicle?

I'm also considering a few convertibles, even though it's not practical
and I'm not in cali anymore, it's definitely the one single feature which
would give me the most happiness in life! Probably the most expensive
single feature too. Mustangs, perhaps 02' camaros/fb... the
warrantee and my "short term" plan seem to offset the unreliable nature of
these cars. I also have thought about the Sebrings and Solaras, since I
could still fit a reasonable amount of stuff in them (my old celica
convertible was suprisingly well designed in terms of fitting cargo in
such a small body, I'd hope to find that again). Miata's are just too
small.

If I opt for something more sensible/affordable than any of the above, a
civic seems possible, given its affordability and reliability, although
the last time I rode in one, everything seemed so light and small compared
to the Cougar. I also noted the mazda protege 5, since the wagon seems to
be the most spacious vehicle in that class/price range, and they offer an
auto stick feature too. I'm worried those two will seem a bit weak after
my V6 ameri-coupe though. I hate the Focus, don't know why but don't want
to bother to find out. It just seems so bland.

Also if anyone has opinions on honest/competant dealers and mechanics
around parsippany, nj, or a good place to learn stick, that'd be great to
read too.

Anyway, thanks for your time and any opinions, experiences, suggestions,
etc.

Dave

 

in your case, it might not be so bad. and if you decide to stay after 3
years, and *like* the car, youll have first crack to buy it outright.

remember, tho- your insurance will be higher, and your registration might be
also.

 

Forget the convertible. Lease an Accord LX auto for $219/month for 36 months.
If you need a convertible fix, just go rent one at Budget for $159/week.




....................
I do not killfile nor use do-not-call lists.

 

remember, tho- your insurance will be higher, and your registration might be

That's not true. A friend leases a luxury car and only carries the state
minimum. The registration fee is also the same as a financed car.




....................
I do not killfile nor use do-not-call lists.

 

Most leasing companies require 100/300/25 Liability Limits....Ford credit is
one of the very few (if maybe the only one) that don't. If one doesn't
carry 100/300 liability limits, then they will see an increase in cost.
Plus its also smart to buy "gap coverage" since one will most certainly be
"upside down" with the car.

 

Most leasing companies require 100/300/25 Liability Limits....Ford credit is

He leases a Lexus and was never told to get higher coverage. Anyways, it's not
that much more expensive, only about $200/year.


If one doesn't

Nope. All they care about is full coverage.

Gap insurance is built in to most leases.



....................
I do not killfile nor use do-not-call lists.

 

Not in New Jersey for that rate, and not in New Jersey at all if you are
aged 23 (mid-sied and under quality cars rented by budget only, or a
30$/day surcharge at enterprise). But it's not a bad idea.

Regarding the Accord, is that lease a deal from the manufacturer?

Dave

 

|
|Nope. All they care about is full coverage.

|Gap insurance is built in to most leases.

We used a major company here in Dallas, it may be a national company (whose name
escapes me)

We were required to carry higher limits on insurance. Of course, you can't do
that for just one of our 5 insured cars, so they ALL went up!

No Gap insurance was included. Extra cost.
Also, we got a property tax bill for the car at least one year. Thankfully,
public outcry was heard at the state capitol and that went away.

Often, the monthly payment they quote you does not include sales tax, which is
added to each payment. You may find your actual payment is 8% or so higher than
you expected.

And if you are trying to compare lease vs buy on a given car, I challenge you to
get the leasing company or dealership to tell you what the "rate" equates to in
interest percentage. If they did, it would kill the deal.

And if you finish the lease and want to keep the car, you get to pay for it
twice. Our 2000 NB will cost us over $30,000 before it's paid off.

And no, I wasn't part of that decision. Wife's car, wife's money, logic was
not a part of the discussion.

I've looked at leases each time I needed to buy a business or personal vehicle
over the last 30 years. I have yet to find a way to justify it.
Rex in Fort Worth

 

He leases a Lexus and was never told to get higher coverage.[/QUOTE]

No, he was never TOLD. But, it's in the contract he signed.

He's just another idiot who asked for a monthly payment and never
bothered to read the terms of the contract he signed.

If you think that he was owed someone specifically *telling* him the
details of the contract...well, you need to get out more. No salesman
will spell out anything more than he has to. But if your friend signed
a contract, he's bound to the terms of that contract.

 

Gap insurance is built in to most leases.[/QUOTE]

No, it's not.

Jesus, where do you get your information?

You're a car salesman's dream come true.

 

$219 sounds like a low mileage lease, probable only 10K a year.
If you drive more you will pay through the nose. Leasing is a
good way to get into a new car at a reasonable price but make
sure you get one with at least 15K a year and don't go more than
three years. NEVER buy the vehicle at the end of the lease or
you negate all of the advantages of leasing.


mike hunt

 

No, he was never TOLD. But, it's in the contract he signed.

I've seen his contract, nowhere does it mention the minimum requirements. He's
had the car for couple of years now and was never told nor penalized for not
getting it.



....................
I do not killfile nor use do-not-call lists.

 

No, it's not.

Look moron, he got the answer directly from Toyota Finance.


....................
I do not killfile nor use do-not-call lists.

 

$219 sounds like a low mileage lease, probable only 10K a year.

Nope. 12K.

That's not true. A friend of mine used to be a car salesman and he says that
one time, this lady was upside down $10,000 on a Corolla because she financed
at over 20%.

If you can negotiate a good lease deal, the difference between a finance deal
is not that great.

....................
I do not killfile nor use do-not-call lists.

 

only lease if you will not buy it at the end of the lease.

 

Look moron, he got the answer directly from Toyota Finance.[/QUOTE]

Your statement was this: "Gap insurance is built in to most leases."
Now you're saying that IN THE CASE OF LEASES FROM TOYOTA FINANCE, gap
insurance is built in.

First off, maybe so, maybe not. Second, that's a FAR cry from "most
leases".

One instances does not "most" make.

 

I've seen his contract,[/QUOTE]

Bullshit.

 

That's crap. You can carry whatever insurance you want on any
individual car, irrespective of any other car.

There's no "of course" about it.

Sounds like your insurance man is treating you like a used car salesman
would. He's sold you unnecessary insurance--and is reaping the profits.
Right out of your pocket.

Up until a few months ago, that was the case here. The capitalized cost
included no sales tax whatsoever; instead, only the lease payments
themselves were taxed. Then the state figured out how much they would
gain if they charged the ENTIRE sales tax amount up front, and split
that cost over the term of the lease.

 

We used a major company here in Dallas, it may be a national company (whose

Texas has their own stupid lease laws.




....................
I do not killfile nor use do-not-call lists.

 

Your statement was this: "Gap insurance is built in to most leases."

You cited ONE bank when implying that NO bank includes gap insurance in their
payments. I've cited at least one that does, so I've proven you to be the fool.




....................
I do not killfile nor use do-not-call lists.